XRP Makes an Astonishing Comeback in the Crypto Market, reclaiming its Spot as the Third-largest Cryptocurrency

XRP has made an astonishing comeback in the crypto market, recording a 280% surge in Q4 2024 and reclaiming its spot as the third-largest cryptocurrency by market capitalization

After years of legal battles and market decline, XRP has made an astonishing comeback in the crypto market, reclaiming its spot as the third-largest cryptocurrency by market capitalization.

In Q4 2024, XRP surged by 280%, fueled by both market momentum and the XRP community’s resilience. As the 2024 U.S. presidential election approaches, former President Donald Trump has called for clearer and more balanced crypto regulations. This political shift has provided a more favorable environment for Ripple and XRP, enabling them to flourish once again.

However, XRP’s future remains uncertain in certain regions, such as Hong Kong. Despite the regulatory clarity offered by the region’s strict anti-money laundering (AML) and counter-terrorist financing (CTF) compliance standards, Hong Kong’s Securities and Futures Commission (SFC) has yet to grant approval for XRP.

Currently, 10 crypto exchanges have been approved under Hong Kong’s regulations, allowing them to trade a select set of virtual assets legally. However, XRP is notably absent from this list, leaving many to wonder if Ripple’s ongoing legal disputes with the SEC are influencing the SFC’s cautious stance. While no official explanation has been provided, this regulatory uncertainty in Hong Kong could have long-term implications for the token’s adoption in the region.

At the time of writing, XRP is trading at $2.28 (AU$3.72), marking a 22.5% drop from the previous day. This downturn comes as the broader crypto market faces a market-wide correction, with Bitcoin (BTC) also seeing a dip, now priced at $95K (AU$154K). Despite the short-term volatility, XRP’s long-term growth prospects remain promising, especially considering the positive momentum and the significant institutional support it has garnered.